My beloved fellow Malaysians.On 27 March 2020, I have announced an Economic Stimulus Package Prihatin Rakyat worth RM250 billion. I know several days ago, Mak Cik Kiah, Pak Mail, Mr. Lee, Mr. Muthu, Mr. Johnny, and many others are checking their eligibility of Bantuan Prihatin Nasional on the LHDN website.For those who are eligible to receive assistance but their names are not in LHDN records, you can apply. It is very simple. Just use your own handphone to apply online on LHDN website.
I have received letters, memorandums and views from many parties. These include SME Association of Malaysia, Dewan Perniagaan Melayu Malaysia, Majlis Tindakan Ekonomi Melayu, the Associated Chinese Chambers of Commerce and Industry of Malaysia, USAHANITA and many more. Therefore, I have instructed the Ministry of Finance to engage with SME enterprises, the purpose of which was to find solutions to the problems that the latter are facing. On the Government side, we will assist as best as we can.
- Finally, for companies with employees of less than 75 people, we will provide a wage subsidy of RM1,200 per month per employee. Through this improvement, companies will receive more benefits and assistance.ce is for a 3-month period and is specifically for employers registered with the Companies Commission of Malaysia or local authorities before 1 January 2020 and are registered with the Social Security Organisation .
Furthermore, to ease the financial burden of SMEs, the Government has also undertaken a number of initiatives to facilitate SMEs in deriving the full benefits from all the assistances that have been announced. Among the improvements that will be introduced are as follows: I understand the difficulties faced by employers in retaining their employees in these trying times. In this regard, the Government encourages employers to actively engage with their employees on employment terms including the options of pay cuts and unpaid leave during the MCO period.
The first example is Lee Beauty Saloon, a micro enterprise operating a hair salon. This enterprise has 2 local employees who earn less than RM4,000 per month. The owner, Madam Lee, wishes to re-invigorate her business after the MCO period ends. With all the assistance announced by the Government, Madam Lee can enjoy benefits through a wage subsidy of RM7,200 for 3 months and a micro grant of RM3,000. The overall benefits that can be received by Madam Lee is RM10,200.
So, other than applying for loans directly from the banking institution, all SMEs have an option to apply for loans through the IMSME portal. This portal provides myKNP services, that isAmong small and micro enterprises, the Government is also concerned about start-ups, where investors have retreated during this period. Startups are the enabling and push factors for the adoption of technology and advancements of human potential to prepare the nation towards IR 4.0.
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